Raymond James & Associates Raises Stake in Silicon Laboratories Inc. (NASDAQ:SLAB)

Raymond James & Associates increased its stake in shares of Silicon Laboratories Inc. (NASDAQ:SLAB) by 4.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 65,623 shares of the semiconductor company’s stock after purchasing an additional 2,561 shares during the period. Raymond James & Associates owned 0.21% of Silicon Laboratories worth $7,584,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. State of Michigan Retirement System raised its holdings in shares of Silicon Laboratories by 2.6% in the 1st quarter. State of Michigan Retirement System now owns 7,797 shares of the semiconductor company’s stock valued at $1,121,000 after acquiring an additional 200 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Silicon Laboratories by 0.5% in the 1st quarter. Retirement Systems of Alabama now owns 50,155 shares of the semiconductor company’s stock valued at $7,208,000 after acquiring an additional 253 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Silicon Laboratories by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,745 shares of the semiconductor company’s stock valued at $11,605,000 after acquiring an additional 8,950 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Silicon Laboratories by 5.9% in the 1st quarter. BNP Paribas Financial Markets now owns 44,997 shares of the semiconductor company’s stock valued at $6,467,000 after acquiring an additional 2,526 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Silicon Laboratories in the 1st quarter valued at about $55,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $150.00 price target on shares of Silicon Laboratories in a report on Thursday, July 25th. StockNews.com raised Silicon Laboratories to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $138.57.

Insider Buying and Selling

In related news, SVP Brandon Tolany sold 845 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $115.00, for a total transaction of $97,175.00. Following the transaction, the senior vice president now directly owns 43,615 shares in the company, valued at $5,015,725. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.72% of the stock is owned by corporate insiders.

Silicon Laboratories Price Performance

SLAB opened at $111.83 on Thursday. The stock’s 50 day simple moving average is $113.27 and its 200 day simple moving average is $115.96. Silicon Laboratories Inc. has a 1 year low of $74.56 and a 1 year high of $154.91. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of -33.79 and a beta of 1.19.

Silicon Laboratories Company Profile

Silicon Laboratories Inc, a fabless semiconductor company, provides various analog-intensive mixed-signal solutions in the United States, China, Taiwan, and internationally. The company's products include wireless microcontrollers and sensor products. Its products are used in various electronic products in a range of applications for the industrial Internet of Things (IoT), including industrial automation and control, smart buildings, access control, HVAC control, and industrial wearables and power tools; smart cities applications, such as smart metering, smart street lighting, renewable energy, electric vehicle supply equipment, and smart agriculture; commercial IoT applications, including smart lighting, asset tracking, electronic shelf labels, theft protection, and enterprise access points; smart home applications, comprising home automation/security systems, smart speakers, smart lighting, HVAC control, smart cameras, smart appliances, smart home sensing, smart locks, and window/blind controls; and connected health applications, including diabetes management, consumer health and fitness, elderly care, patient monitoring, and activity tracking; as well as in commercial building automation, consumer electronics, and medical instrumentation.